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Deal management is the process your sales team employs to help prospects move through the pipeline of sales. This includes prospecting, qualification, needs analysis, proposal/presentation, negotiation/objection handling, and closing. This includes post-sales sales marketing to ensure that your clients are happy.

Deal management is an excellent method to increase the efficiency of your team, improve practices and boost conversions. You’ll need to start by taking a look at your current sales procedure and identifying areas where you can improve. You can then develop internal protocols, playbooks, or checklists that are tailored to your investment process.

Benefits of the focus on deal management are

Sales pipeline visibility enhanced -Instead of tracking their progress in a variety of spreadsheets or in emails your team will be able to work in real-time, in a secure location to manage their deals. This allows them to decide which deals to prioritize based upon signals from the entire pipeline.

Improved efficiency — By automating and simplifying the process of moving deals forward Your sales team can spend less time on admin tasks and spend more time on the most valuable tasks. For instance, utilizing an application that can automatically inform the next person involved in the handover process reduces the time spent on manual tasks, and also the possibility of overlooking important details.

Improved performance monitoring The analysis of deal data can provide some lightbulb moments for your teams on how to improve their performance at various stages of the investment process. For instance, if you discover that your team is losing deals due to inadequate pricing, you can employ a tool to help you improve discount levels.